Secured Personal Loans Fees & Interest Rates
Risk related rate of Interest
- The interest rate charged to the customer is based upon the customer profile, Credit bureau score, property type, market competition offerings, etc.
- The interest rate applicable will vary from time to time and will be mentioned against the specific operative schemes/loan products
Mode of Calculation
- The interest rate will be quoted on an annualized basis only.
- Compounding, if any, will be provided in specific loan schemes.
Penal/overdue Interest
- 3% per month on overdue amount for actual days of due.
- Bounce Charges
Rs.500/- (for first instance)
Rs.750/- (for second instance)
Rs.1000/- (from third instance onwards)
Bounce charges will be added along with the next instalment. Bounce charges include GST
| Customized Interest Rates | 10 to 27% |
| Processing Fees | 1.5 – 2 % |
| Loan Tenure | up to 20 years |
| Pre/ Part Payment Charges | Part prepayment up to 25% of the Loan Amount can be made in a Financial Year. Part prepayment in excess of this limit will be subject to pre-payment charge of 3% of the loan amount prepaid plus Applicable Taxes |
| Fore-Closure Charge | 3% of Principle Outstanding +Applicable Taxes (only after payment of 3 EMIs) |
| Loan Amount | ₹ 50,000 – ₹ 50 lakhs |
| Instalments | Flexible Monthly |
